Replies to post #38873 on Innovation Pharmaceuticals Inc (IPIX)

[JB3729]

You may be 10m shares off according to the 10-Q

From the 10-Q for the quarter ending 3-31-2013

Preferred stock, $0.001 par value, 500,000 designated shares, no shares issued and outstanding - -
Common Stock - Class A, $.0001 par value, 300,000,000 shares authorized, 98,746,068 issued and 97,363,984 outstanding as of March 31, 2013 and 94,968,905 issued and 92,206,821 outstanding as of June 30, 2012 9,875 9,497
Common Stock - Class B, (10 votes per share); $.0001 par value, 100,000,000 shares authorized, no shares issued and outstanding as of March 31, 2013 and June 30, 2012

The number of shares outstanding of each of the issuer’s classes of common equity, as of May 8, 2013 is as follows:

Class of Securities

Shares Outstanding

Common Stock Class A, $0.001 par value 97,363,984

[58nout]

Orion, I wonder if E Schwartz is connected to the original owner of Econoshare, Hyman Schwartz. Econoshare eventually became Cellceutix. It's been a while since I looked at this, but I believe that they might have been man and wife. I have an old post from last year that I have to find. Interesting stuff.

GO CTIX

[58nout]

Orion, yes I found it. Here's what I posted last March:

Hyman and Ethel Schwartz still own 2.5 million shares. Just in case anyone of us considers ourselves long, there are always the originals. Now this is faith!

From the Cellceutix history channel:

The founding stockholders of the Company, Hyman Schwartz and Jacob Werczberger received 9,050,000 shares of Common Stock of the company, for which they paid an aggregate of $905.

Hyman Schwartz is the president and principal shareholder of The Hyett Group, Ltd. The Hyett Group, Ltd is registering 750,000 shares of Common Stock which includes 150,000 shares of Common Stock and 600,000 shares of Common Stock underlying four series of warrants. The Hyett Group, Ltd is an affiliate of the CEO of the issuer and is thus subject to resale restrictions that preclude resale of such number of shares which exceed 1% of the outstanding shares of the Company's Common Stock every 90 days. For the purpose of the Affiliate rule, the shares held by Hyman Schwartz and The Hyett Group, Ltd. is aggregated.

On August 21, 2005 the Company engaged the services of Softcode Design and Development, a Division of The Hyett Group Ltd. to develop the websites and platform infrastructures in exchange of 150,000 Shares of Common Stock and Common Stock Purchase warrants valued at $7,500. The Hyett Group, Ltd. will also provide hosting services to our company for a monthly fee of $100 and Edgarizing services at the standard rate. Hyman Schwartz, our President and CEO of EconoShare, Inc., is also the president and principal shareholder of The Hyett Group Ltd.

Jacob Werczberger , our Secretary is a nephew to Hyman Schwartz .


Hyman Schwartz, the Company's Chief Executive Officer and Principal shareholder provided a credit facility to the Company for up to a maximum of $25,000 which may drawn down anytime from June 15, 2006 until October 15, 2007. This unsecured loan is payable October 30, 2007 and bears an interest rate of prime plus one (1) calculated on an annual basis payable annually in arrears with first payment due June 14, 2007 and second payment due at maturity on October 30, 2007, unless extended by mutual consent of the parties. To date, Hyman Schwartz advanced $500 to the company pursuant to this credit facility. In September 2005, prior to providing this credit facility to the Company, Hyman Schwartz provided a short term loan to the Company in the amount of $3,595, which has been repaid to Mr. Schwartz in the month of February 2006.

The Company has not entered into any other transactions with a related party other than what is stated above. Management does not know of any other transaction it will be entering into with related parties.

The Company has had no transactions with any promoter or promoters since its inception. Nothing of value, including money, property, contracts, options or rights of any kind has been received or will be received by a promoter, directly or indirectly from the Company which is not disclosed.

and just in case anyone reads this to the end, I have a question. What do you think Leo's connection, if any, is to Mr Schwartz?[/I]